Obama Solar Firm Fails Filing For
Bankruptcy And Laying Off 1,110 People

Hate To Say I Told You So, But I Told You So

September 1. 2011

Barack Obama

Solyndra, the solar company U.S. President Barack Obama, personally and
publicly backed, giving the corporation $535,000,000 in taxpayer money, has
filed for bankruptcy, laying off its 1,110 workers.

For a number of reasons, the failure of this company is a serious blow
to the U.S. economy and the White House for underwriting it. The U.S.
taxpayer is out over half a billion dollars, unemployment shall go up, jobs
that could have been created with that money will not be and President
Obama’s credibility has taken another hit.

The Judiciary Report warned President Obama in a string of articles to
back off his solar initiative, but he did not and to disastrous results.
From the beginning of Obama’s presidency, the Judiciary Report has warned
that the White House, U.S. Congress, FBI,
CIA and other divisions of the government, should economize and
prioritize.

However, that message fell on deaf ears. Much like when I
warned in 2006 via a sister site (Sound Off Column) that a
financial crisis was coming and it did two years later, but the government
ignored that as well, when it could have been prevented. The government has
been gambling with/spending taxpayer money, like a lottery winner,
splurging with newly gained funds, only to end up bankrupt in a few short
years, due to poor financial planning.

As stated above, the U.S. government, under Barack Obama, personally
gave Solyndra over half a billion dollars in U.S. taxpayer money to play
with - yet as we can see based on reports, they only employed 585 people
with said funds, which is economic rubbish.

This solar initiative was not a priority. The Judiciary Report warned
again regarding it as
recently as April. There is no excuse. That money should have gone
to more practical job creation, where much more people would have been
employed for those same taxpayer funds, thus noticeably decreasing
unemployment as stated in the article Obama
Calls For Job Summit.

Had Obama followed the Judiciary Report's aforementioned job creation
outline, over two and a half years ago, unemployment would not be ridiculously
high and rising, as it is today. Coupled with appropriate taxation and
budget cuts, the economy would have been doing quite well today.

President Obama at Solyndra

Do you know how many jobs I could create for over half a billion
dollars, yet the government, utilizing poor oversight, which the Judiciary
Report expressly
warned against in 2009,
allowed Solyndra to create just 585. I keep repeating that because the
government does not seem to get it.

For that money why employ
585 individuals when you could employ over 35,000 people for those same
funds, in stable, proven industries. These costly missteps and mistakes
coming out of Washington are clearly about someone's agenda, rather than
what is in the best interest of the general public.

As stated in the bullet
trainarticles, this is not the time for experimentation.
Vanity projects need to wait until America is on stable financial footing.
The government is not prioritizing and it is very perturbing, as people in
America are suffering, yet Washington continues to put the cart before the
horse. Once again, you must prioritize.

Furthermore, the Judiciary Report has concerns about too many people
jumping into the solar industry, without proper scientific investigation.
Not only is it very costly per household at the current rate of the
technology, will every company use the same calibration for each piece of
solar apparatus, as invariably, overuse to certain degrees, by too many
people worldwide could
harm the sun. Frankly, the latter is not a pretty scenario. The
industry needs universal regulations and standards, as this is a serious
issue.